TUI sees ‘no impact’ of possible sanctions - TravelMole


TUI sees ‘no impact’ of possible sanctions

Friday, 01 Mar, 2022 0

Travel group TUI has reassured employees that possible sanctions won’t have any lasting impact on the business.

The company’s largest single shareholder, Russian billionaire Alexey Mordashov, could be sanctioned over Russia’s invasion of Ukraine.

“Our company is run by the Executive Board, like any German public limited company, and not by the shareholders or the supervisory board,” said TUI CEO Fritz Joussen in a staff memo.

The firm is not aware of any possible sanctions against Mordashov yet but questions over it are ‘legitimate.’

“A solution is not in our hands. This is the time of the governments and the community of states,” Joussen added, referring to possible operational disruption.

“We are monitoring the developments intensively in order to assess possible consequences and to be able to put plans into place if necessary.”

“We ourselves are no longer represented with companies in Russia and Ukraine. As you know, we sold our shareholdings in the tour operators in Russia and Ukraine some time ago. However, in order to ensure the safety of our customers, we will make or have already made adjustments in some areas, such as flight routes and cruise destinations.”

Mordashov has been a TUI shareholder for 15 years and holds about a third of the company.



Related News Stories:  



 

profileimage

Ray Monty



Most Read

Dana Young of Visit Florida at WTM 2024

Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida

Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference

Insights from James Ferrara on Inteletravel’s Growth and Future

Tricia Handley-Hughes on Inteletravel’s Growth and Challenges
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari

true